,907,

SINOTRANS AIR TRANSPORTATION DEVELOPMENT CO., LTD. 2003

2003 1 1.1 1.2 1.3 1.4 1.5 2 2.1 600270 21 21 010-68405635 010-68405635 010-68405628 010-68405628 stock@sinoair.com stock@sinoair.com 2.2 2.2.1 2,907,869,802.54 2,558,394,148.98 13.66% 2,009,314,729.81 1,734,737,695.46 15.83% 3.66 4.74-22.78% 3.52 4.55-22.64% 263,487,739.25 583,113,698.41 122.14% 0.1623 0.5003-31.09% % 4.43 13.67-8.80% % 4.38 13.61-6.37% 2

2003 1,689,921.52 586,906.66 1,103,014.86 2.2.2 2003 1-9 2002 1-9 2003 1-9 2002 1-9 1 2,165,808,803.52 1,634,086,948.98 545,526,224.11 487,801,216.68 2 859,388,133.33 595,569,345.62 285,752,148.97 222,268,924.84 3 51,605,695.21 42,247,127.40 18,740,400.34 17,336,225.19 4 1,254,814,974.98 996,270,475.96 241,033,674.80 248,196,066.65 5 9,721,914.75 7,989,837.39 3,779,004.47 3,765,287.63 6 403,503,232.36 357,399,335.79 47,348,863.94 55,584,776.91 7 282,748,217.16 200,124,547.96 90,705,002.21 89,243,628.93 8-10,249,805.26-11,962,057.41-8,460,806.51-10,379,961.94 9 588,535,245.47 458,698,487.01 115,219,619.63 117,512,910.38 10 32,457,705.54 20,794,608.21 187,561,683.49 131,678,747.88 11 0.00 0.00 0.00 0.00 12 3,047,519.25 10,255,612.56 2,508,283.51 2,297,714.68 13 1,904,618.48 5,061,442.78 318,363.34 736,155.18 14 622,135,851.78 484,687,265.00 304,971,223.29 250,753,217.76 15 150,063,981.72 114,730,907.83 30,396,688.94 27,405,050.71 16 154,643,992.24 111,090,304.44 0.00 0.00 17 17,515,069.25 26,876,131.13 0.00 0.00 18 25,338,274.22 8,641,754.55 0.00 0.00 19 274,574,534.35 223,348,167.05 274,574,534.35 223,348,167.05 2.3 2003 9 30 22254 3 3.1 150875.29 22.17% 9821027 29.13% 2,165,808,803.52 32.54% 274,574,534.35 22.94% 3

2003 GDP 8.5% 36.2% 3.1.1 10% (%) 194,288,386.67 120,277,748.66 38.09% 1,864,907,646.19 678,931,846.59 63.59% 106,612,770.66 60,178,538.08 43.55% 2,165,808,803.52 859,388,133.33 60.32% - 3.1.2 3.1.3 3.1.4 3.1.5 3.2 -- 540 2003 7 25 2003 9 25 2003 3.3 3.4 4

2003 3.5 3.6 4.0 2003 10 30 5

2003 2003 9 30 2002 12 31 2003 9 30 2002 12 31 1,662,512,286.35 1,412,480,485.78 1,223,868,447.74 1,145,071,665.24 125,650.00 3,713,930.87 125,650.00 120,000.00 221,822.28 649,727.07 221,822.28 2,148,238.02 391,667,024.57 306,174,139.66 201,207,404.54 159,443,483.21 42,230,247.05 94,629,711.25 33,898,818.76 26,736,024.49 63,769,160.24 69,514,431.73 41,850,766.78 63,247,277.80 0.00 0.00 0.00 0.00 4,709,150.12 1,669,446.81 64,495.94 120,964.13 12,014,810.38 11,697,121.33 4,044,782.12 2,772,510.41 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2,177,250,150.99 1,900,528,994.50 1,505,282,188.16 1,399,660,163.30 172,932,176.44 129,547,754.19 487,336,591.90 392,417,347.43 0.00 0.00 0.00 0.00 172,932,176.44 129,547,754.19 487,336,591.90 392,417,347.43 0.00 0.00 0.00 0.00 737,225,136.11 657,561,461.06 385,915,181.10 345,913,288.49 275,387,388.54 219,272,969.06 95,566,234.45 75,567,499.45 461,837,747.57 438,288,492.00 290,348,946.65 270,345,789.04 0.00 0.00 0.00 0.00 461,837,747.57 438,288,492.00 290,348,946.65 270,345,789.04 11,781,457.36 4,527,131.97 11,781,457.36 4,527,131.97 7,397.35 0.00 7,397.35 0.00 473,626,602.28 442,815,623.97 302,137,801.36 274,872,921.01 26,155,789.32 26,579,937.27 26,155,789.32 26,579,937.27 57,905,083.51 58,921,839.05 31,718,276.63 25,371,964.47 0.00 0.00 0.00 0.00 84,060,872.83 85,501,776.32 57,874,065.95 51,951,901.74 0.00 0.00 0.00 0.00 2,907,869,802.54 2,558,394,148.98 2,352,630,647.37 2,118,902,333.48 6

2003 2003 9 30 2002 12 31 2003 9 30 2002 12 31 257,765,874.01 218,152,393.66 216,284,882.39 186,841,034.11 33,490,054.58 24,893,973.48 29,329,835.21 21,144,718.26 25,845,094.49 27,387,002.28 8,554,180.48 2,650,839.30 61,520,835.55 32,093,956.97 14,098,228.52 13,733,245.24 0.00 92,461,807.29 0.00 91,462,800.00 58,899,961.57 42,244,134.67 16,762,815.17 13,712,404.35 125,268.49 194,312.04 123,643.80 186,203.03 124,363,988.06 72,621,061.45 49,291,407.88 41,852,788.58 17,437,699.16 42,189,350.92 3,637,076.09 5,102,209.93 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 579,448,775.91 552,237,992.76 338,082,069.54 376,686,242.80 761,635.50 1,904,088.75 0.00 0.00 0.00 0.00 0.00 0.00 3,728,056.88 5,964,891.02 3,728,056.88 5,964,891.02 4,489,692.38 7,868,979.77 3,728,056.88 5,964,891.02 1,505,791.14 1,513,504.20 1,505,791.14 1,513,504.20 585,444,259.43 561,620,476.73 343,315,917.56 384,164,638.02 313,110,813.30 262,035,976.79 0.00 0.00 548,776,800.00 365,851,200.00 548,776,800.00 365,851,200.00 881,466,207.46 991,219,067.46 881,466,207.46 991,219,067.46 106,763,720.61 106,763,720.61 106,763,720.61 106,763,720.61 : 35,583,254.78 35,583,254.78 35,583,254.78 35,583,254.78 472,308,001.74 270,903,707.39 472,308,001.74 270,903,707.39 2,009,314,729.81 1,734,737,695.46 2,009,314,729.81 1,734,737,695.46 2,907,869,802.54 2,558,394,148.98 2,352,630,647.37 2,118,902,333.48 7

2003 1-9 2003 1-9 2002 1-9 2003 1-9 2002 1-9 2,165,808,803.52 1,634,086,948.98 545,526,224.11 487,801,216.68 859,388,133.33 595,569,345.62 285,752,148.97 222,268,924.84 51,605,695.21 42,247,127.40 18,740,400.34 17,336,225.19 1,254,814,974.98 996,270,475.96 241,033,674.80 248,196,066.65 9,721,914.75 7,989,837.39 3,779,004.47 3,765,287.63 403,503,232.36 357,399,335.79 47,348,863.94 55,584,776.91 282,748,217.16 200,124,547.96 90,705,002.21 89,243,628.93-10,249,805.26-11,962,057.41-8,460,806.51-10,379,961.94 588,535,245.47 458,698,487.01 115,219,619.63 117,512,910.38 32,457,705.54 20,794,608.21 187,561,683.49 131,678,747.88 3,047,519.25 10,255,612.56 2,508,283.51 2,297,714.68 1,904,618.48 5,061,442.78 318,363.34 736,155.18 622,135,851.78 484,687,265.00 304,971,223.29 250,753,217.76 150,063,981.72 114,730,907.83 30,396,688.94 27,405,050.71 154,643,992.24 111,090,304.44 0.00 0.00 17,515,069.25 26,876,131.13 0.00 0.00 25,338,274.22 8,641,754.55 0.00 0.00 274,574,534.35 223,348,167.05 274,574,534.35 223,348,167.05 270,903,707.39 162,673,692.89 270,903,707.39 162,673,692.89 0.00 0.00 0.00 0.00 545,478,241.74 386,021,859.94 545,478,241.74 386,021,859.94 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 545,478,241.74 386,021,859.94 545,478,241.74 386,021,859.94 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 73,170,240.00 30,487,600.00 73,170,240.00 30,487,600.00 472,308,001.74 355,534,259.94 472,308,001.74 355,534,259.94 8

2003 7-9 2003 7-9 2002 7-9 2003 7-9 2002 7-9 766,896,097.32 608,697,563.40 181,918,254.76 161,536,459.16 306,599,381.26 240,069,773.36 103,460,374.63 88,597,297.71 17,505,483.85 14,419,463.59 5,763,469.69 4,820,858.54 442,791,232.21 354,208,326.45 72,694,410.44 68,118,302.91 3,084,739.79 5,662,850.14 1,057,939.72 3,651,359.51 147,640,406.45 125,994,723.19 18,782,424.74 15,458,241.60 115,050,628.76 65,037,091.99 26,753,683.80 25,361,266.91-3,776,631.11-4,475,137.03-3,397,545.74-4,164,534.92 186,961,567.90 173,314,498.44 31,613,787.36 35,114,688.83 15,058,092.77 8,642,471.63 66,144,680.66 54,942,976.96 1,181,401.45 8,040,164.79 888,290.76 727,708.26 897,681.40 743,273.31 59,815.25 190,349.55 202,303,380.72 189,253,861.55 98,586,943.53 90,595,024.50 48,130,899.55 41,789,091.98 9,541,183.11 4,426,203.29 50,930,604.88 46,121,821.69 0.00 0.00 5,771,669.67 11,203,818.72 0.00 0.00 8,424,446.20 3,970,307.95 0.00 0.00 89,045,760.42 86,168,821.21 89,045,760.42 86,168,821.21 270,903,707.39 162,673,692.89 270,903,707.39 162,673,692.89 0.00 0.00 0.00 0.00 359,949,467.81 248,842,514.10 359,949,467.81 248,842,514.10 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 359,949,467.81 248,842,514.10 359,949,467.81 248,842,514.10 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 73,170,240.00 0.00 73,170,240.00 0.00 286,779,227.81 248,842,514.10 286,779,227.81 248,842,514.10 9

2003 2003 1-9 3,162,114,777.56 1,366,766,477.78 3,380,994.31 3,380,994.31 8,349,483.04 5,090,544.11 3,173,845,254.91 1,375,238,016.20 2,023,967,308.92 1,019,065,620.31 264,819,791.62 112,028,135.16 229,041,834.35 63,068,237.96 72,902,621.61 70,507,708.85 2,590,731,556.50 1,264,669,702.28 583,113,698.41 110,568,313.92 0.00 0.00 7,927,904.80 112,998,071.47 2,856,224.71 540,602.91 9,347,547.12 6,904,648.64 20,131,676.63 120,443,323.02 148,311,345.55 51,862,574.10 16,666,080.00 16,666,080.00 0.00 0.00 164,977,425.55 68,528,654.10-144,845,748.92 51,914,668.92 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 188,258,131.04 83,687,468.01 0.00 0.00 188,258,131.04 83,687,468.01-188,258,131.04-83,687,468.01 21,982.12 1,267.67 250,031,800.57 78,796,782.50 10

2003 1 2003 1-9 274,574,534.35 274,574,534.35 154,643,992.24 0.00 5,953,592.15 6,596,197.07 65,467,105.98 22,454,138.99 424,147.95 424,147.95 16,936,382.15 4,736,437.34-317,689.05-1,272,271.71-24,751,651.76-1,465,133.84 561,149.58 146,812.28 20,307.98 20,307.98-9,480,109.35-7,595,488.71-32,457,705.54-187,561,683.49-7,713.06-7,713.06-3,039,703.31 56,468.19-29,713,460.50-34,132,051.65 145,966,149.99 48,420,419.40 18,334,368.61-14,826,807.17 583,113,698.41 110,568,313.92 2 0.00 0.00 0.00 0.00 0.00 0.00 3 1,662,512,286.35 1,223,868,447.74 1,412,480,485.78 1,145,071,665.24 0.00 0.00 0.00 0.00 250,031,800.57 78,796,782.50 11